| Your Current Location : Correlation : Country Correlation |
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Country Correlation Matrix |
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| The following table shows return correlations between various Country Indices over the past 3 Months. |
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C1 |
C2 |
C3 |
C4 |
C5 |
C6 |
C7 |
C8 |
C9 |
C10 |
C11 |
C12 |
C13 |
C14 |
C15 |
C16 |
C17 |
|
Return |
SD |
| BOVESPA (Brazil) |
C1 |
1.00 |
-0.05 |
-0.20 |
0.40 |
0.03 |
-0.04 |
0.00 |
-0.06 |
0.37 |
-0.30 |
-0.12 |
-0.13 |
0.41 |
0.06 |
0.23 |
0.20 |
0.24 |
|
12.82 |
16.98 |
| CAC (France) |
C2 |
-0.05 |
1.00 |
0.62 |
0.42 |
0.40 |
-0.16 |
0.19 |
0.12 |
0.46 |
0.11 |
0.07 |
0.19 |
0.48 |
-0.10 |
0.13 |
-0.05 |
0.04 |
|
2.86 |
15.02 |
| DAX (Germany) |
C3 |
-0.20 |
0.62 |
1.00 |
0.43 |
0.58 |
-0.15 |
0.31 |
0.03 |
0.50 |
0.13 |
0.03 |
0.08 |
0.50 |
-0.11 |
0.11 |
0.04 |
-0.07 |
|
-1.77 |
14.51 |
| DJIA (USA) |
C4 |
0.40 |
0.42 |
0.43 |
1.00 |
0.52 |
-0.02 |
0.05 |
0.03 |
0.74 |
-0.14 |
0.01 |
-0.11 |
0.86 |
-0.08 |
0.03 |
0.03 |
0.04 |
|
6.19 |
12.96 |
| FTSE 100 (UK) |
C5 |
0.03 |
0.40 |
0.58 |
0.52 |
1.00 |
-0.03 |
0.21 |
0.21 |
0.40 |
0.20 |
-0.08 |
-0.20 |
0.48 |
-0.12 |
0.12 |
0.07 |
0.05 |
|
7.03 |
9.78 |
| HANGSENG (HONGKONG) |
C6 |
-0.04 |
-0.16 |
-0.15 |
-0.02 |
-0.03 |
1.00 |
-0.28 |
-0.10 |
-0.17 |
-0.06 |
-0.02 |
-0.11 |
-0.10 |
0.00 |
-0.01 |
-0.14 |
-0.01 |
|
5.56 |
1087.48 |
| JAKARTA (Indonesia) |
C7 |
0.00 |
0.19 |
0.31 |
0.05 |
0.21 |
-0.28 |
1.00 |
-0.14 |
0.13 |
-0.05 |
0.01 |
0.06 |
0.11 |
0.02 |
0.11 |
0.13 |
0.07 |
|
11.45 |
23.87 |
| KOSPI (S Korea) |
C8 |
-0.06 |
0.12 |
0.03 |
0.03 |
0.21 |
-0.10 |
-0.14 |
1.00 |
0.07 |
0.60 |
0.12 |
-0.11 |
0.05 |
0.23 |
0.01 |
-0.01 |
-0.17 |
|
23.16 |
30.14 |
| NASDAQ (USA) |
C9 |
0.37 |
0.46 |
0.50 |
0.74 |
0.40 |
-0.17 |
0.13 |
0.07 |
1.00 |
-0.17 |
0.11 |
-0.05 |
0.96 |
0.00 |
0.16 |
0.13 |
0.11 |
|
7.47 |
20.02 |
| NIFTY (India) |
C10 |
-0.30 |
0.11 |
0.13 |
-0.14 |
0.20 |
-0.06 |
-0.05 |
0.60 |
-0.17 |
1.00 |
0.16 |
-0.14 |
-0.15 |
0.19 |
0.09 |
0.09 |
-0.19 |
|
4.63 |
12.64 |
| NIKEEI (Japan) |
C11 |
-0.12 |
0.07 |
0.03 |
0.01 |
-0.08 |
-0.02 |
0.01 |
0.12 |
0.11 |
0.16 |
1.00 |
0.02 |
0.06 |
0.67 |
0.01 |
0.01 |
-0.24 |
|
20.21 |
327.38 |
| RTSI (Russia) |
C12 |
-0.13 |
0.19 |
0.08 |
-0.11 |
-0.20 |
-0.11 |
0.06 |
-0.11 |
-0.05 |
-0.14 |
0.02 |
1.00 |
-0.10 |
-0.09 |
-0.40 |
-0.18 |
0.03 |
|
-14.76 |
26.54 |
| S&P 500 (USA) |
C13 |
0.41 |
0.48 |
0.50 |
0.86 |
0.48 |
-0.10 |
0.11 |
0.05 |
0.96 |
-0.15 |
0.06 |
-0.10 |
1.00 |
-0.04 |
0.12 |
0.12 |
0.11 |
|
5.17 |
14.34 |
| S&P ASX 200 (Australia) |
C14 |
0.06 |
-0.10 |
-0.11 |
-0.08 |
-0.12 |
0.00 |
0.02 |
0.23 |
0.00 |
0.19 |
0.67 |
-0.09 |
-0.04 |
1.00 |
0.00 |
0.14 |
-0.36 |
|
-0.42 |
807.71 |
| SENSEX (India) |
C15 |
0.23 |
0.13 |
0.11 |
0.03 |
0.12 |
-0.01 |
0.11 |
0.01 |
0.16 |
0.09 |
0.01 |
-0.40 |
0.12 |
0.00 |
1.00 |
0.08 |
-0.00 |
|
4.20 |
787.45 |
| SHANGHAI (China) |
C16 |
0.20 |
-0.05 |
0.04 |
0.03 |
0.07 |
-0.14 |
0.13 |
-0.01 |
0.13 |
0.09 |
0.01 |
-0.18 |
0.12 |
0.14 |
0.08 |
1.00 |
-0.05 |
|
9.97 |
20.99 |
| STRAIT TIMES (Singapore) |
C17 |
0.24 |
0.04 |
-0.07 |
0.04 |
0.05 |
-0.01 |
0.07 |
-0.17 |
0.11 |
-0.19 |
-0.24 |
0.03 |
0.11 |
-0.36 |
-0.00 |
-0.05 |
1.00 |
|
5.45 |
1753.04 |
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Note :
- Returns upto 1 year are absolute and over 1 year are compounded and annualised.
- Standard Deviations are calculated on daily return basis for the given period and are annualised.
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Intra-Portfolio Diversification 
Diversification can be quantified as the intra-portfolio correlation. This indicate Percent of diversifiable risk eliminated. |
43.20% |
| Portfolio Return |
6.42% |
| Start Date |
08 Aug 2025 |
| End Date |
07 Nov 2025 |
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| Each cell represents the correlation between the two corresponding assets. |
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| Cell Color |
Description |
Diversification Benefit |
| -1.00 to -0.40 |
Asset pair with negative correlation |
Excellent Diversification |
| -0.40 to 0.00 |
Asset pair with slight negative correlation |
Good Diversification |
| 0.00 to 0.60 |
Asset pair with mild positive correlation |
Moderate Diversification |
| 0.60 to 1.00 |
Asset pair with strong positive correlation |
Poor Diversification |
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